Episode summary
Building a Modern Experience for Advisors
Summary
Merit Point Wealth Advisors was built in 2019 by Ross Bower and two partners after years in the wirehouse and banking channels. Bower said they wanted more flexibility over client service, branding, hiring, and how the business was run, while still giving advisors the benefits of independence without forcing them to become full-time operators.
Bower defined a “modern” advisor experience as more than just new tools. He pointed to technology and AI, support roles beneath the advisor, and flexible business design as the core ingredients. Merit Point is working with Wells Fargo Advisors Financial Network to run technology sessions several times a month so advisors and staff can learn what is available and how to use it to serve clients more efficiently.
He also said Wells Fargo Advisors Financial Network gives independent advisors access to a broad product and services platform, including investing, lending, trust, and estate services, while still letting them choose how to use those capabilities. On growth, Bower emphasized quality partnerships, succession readiness, and intentional fit over growth for its own sake. His advice to advisors was to start by writing down what they want for clients and for their business, then match that vision to the right firm.
Key takeaways
- Ross Bower said Merit Point started in 2019 to give advisors more control over service, branding, hiring, and business structure.
- Bower said modern independence depends on technology, AI, and support teams that help advisors run more efficiently.
- The firm’s partnership with Wells Fargo Advisors Financial Network includes recurring technology training sessions for advisors and staff.
- Bower said Wells Fargo Advisors Financial Network offers an independent wrapper around investing, lending, trust, and estate services.
- Bower’s growth strategy is selective: Merit Point wants long-term partners with succession and organic growth needs, not volume for its own sake.
Notable quotes
“we started Merit Point in 2019, myself and and two partners”
“we could build something out not only for ourselves and our clients, but for other advisors who wanted those same things”
“technology is obviously one of the most important pieces of the conversation right now”
“Finet has done this amazing thing where they're the only place really that has full balance sheet offering in terms of products for investing, lending, you know, trust, estate services, you name it”
“write down on a piece of paper like what you you want for your clients, what you want for your business”
How the episode opens
Hi everyone and welcome to this Wealth Management Fast Chat. I'm Shannon Rosic, Director of Content Solutions, and I'm so excited to be joined today by Ross Bower, Founder and Executive Chairman of Merit Point Wealth Advisors. And we'll be talking about what modern independence can look like for advisors who want room to grow, but also want the backing resources and community to do it well.
Ross brings a great perspective on how Merit Point Wealth Advisors has evolved, how its relationship with Wells Fargo Advisors Financial Network supports that model, and what advisors should be thinking about as they evaluate their next chapter. So, Ross, excited you're joining me. I want to dive right in.
So thrilled to be here, Shannon. Thanks. Let's do it. — So, Ross, before we get into where the business is headed, I I would just love to start with how it all came together. So, could you just tell us a bit about Merit Point's background and how you've grown the practice over time?
Yeah, for sure. You know, I think the the condensed version is we started Merit Point in 2019, myself and and two partners. Um we were wealth advisors that had built businesses in the wirehouse world, through the banking world, and ultimately wanted more flexibility over how we served our clients, more control over the the brand and the client experience, the service model, who we hired.
Um and in doing that, realized we could build something out not only for ourselves and our clients, but for other advisors who wanted those same things and wanted to be independent, but didn't necessarily want to put on the operator hats and transition to not only being an advisor, but running an enterprise. Um so, that's really been our focus is delivering a highly highly supported experience to financial advisors um who can get the benefits of independence structurally but still focused on what's most important to them in their relationships that being their clients and that has helped us scale you know to the seven locations in the nationwide presence that we have today.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- advisor independence
- modern advisor experience
- wealth management platform
- supported independent practice
- wells fargo advisors financial network
Companies and tickers mentioned
- WFC
- Merit Point Wealth Advisors
- Wells Fargo Advisors Financial Network
- Wells Fargo
Watch the episode
Watch “Building a Modern Experience for Advisors” on YouTube
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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